Helping you document business processes with templates

Internal Control Templates

Internal Control Procedures

The internal control procedures templates include an 8 page internal control policy, internal control review procedures, Audit Committee responsibility descriptions, and our spreadsheets with over 1,000 internal controls covering both entity level controls and accounting controls. Use the Copedia Internal Controls to develop internal control checklists and questionnaires covering Assets, A/P, A/R, Cash, Checks, Financial Reporting, Job Costing, Marketing/Customers, Data Integrity, Payroll and HR, Project Management, Purchasing, Receiving and Warehousing, Safety, Sales and Estimating, Retail, the Control Environment, Control Activities, Risk Assessment, Information and Communications, and Control Monitoring.

The internal control manual templates are included in the Accounting and Management Template Library or licensed separately.

Internal Control Tools

The internal control templates are delivered in both text and spreadsheet formats so you can easily develop and print internal control checklists and questionnaires. You can also use the spreadsheets to evaluate compliance with your internal control system for reporting to governing authorities.

Internal Control for Nonprofits

Our internal controls for nonprofit organizations include templates for grants covering allowable costs, program income, property and equipment acquisition, matching, procurement, reporting, contributions, donations, and funds availability. Also included in our nonprofit internal controls are detailed donation collection and cash handling procedures for events and churches

Internal Control Policy

All Templates download in MS Word and Excel for easy customization.

internal control policy
From the internal control assessment tool.

Example Internal Controls

Following are examples from the Copedia internal controls module. First, a screen shot from the Internal Control Assessment Spreadsheet and second, an example checklist of Asset controls in text format:

Templates Download in Word and Excel

All Templates download in MS Word and Excel for easy customization.

Internal Control of Accounts Payable
From the internal control assessment tool.
License, Download, Customize - Done!!

 

Internal Control Evaluation Tools

Internal Control Evaluation Tool

Internal Control Checklist Sample:

Internal Control of Assets

Division of Duties

___ The person responsible for recording fixed assets does not make general ledger entries

___ The reconciliation of the Fixed Asset detail accounts with the fixed asset control accounts and making entries into the fixed asset software are separate

___ The custodian of the fixed assets and the taking of physical inventory are separate

___ The person responsible for tagging fixed assets is not the fixed asset custodian

___ The person responsible for locating missing fixed assets is not the fixed asset custodian

___ Capital asset purchases require authorization

___ Asset disposals require authorization

General Asset Controls

___ There are written procedures for purchasing, receiving, recording assets, and inventory management

___ Asset records properly classify and identify the assets

___ Assets are tagged when received

___ Physical asset inventories are actually performed

___ Physical inventories of assets are performed when transition of employee asset custodians occurs

___ Missing assets are logged in a missing asset log

___ Documentation is prepared when assets are received, sold, moved, transferred, damaged, or disposed of

___ Asset reconciliations are actually performed

___ Asset additions are properly valued

___ Asset capitalization includes costs required to place the asset in service including (direct costs, preparation costs, fees, damages, interest, etc.)

___ Assets gains and losses are properly recorded

___ Assets are adequately insured